THE GIST (“THE WHAT”) As the clock keeps ticking towards the June 1 ‘hard deadline’, investors closely monitor the ongoing debt talks. A failure to raise the debt ceiling could trigger the U.S. government default and could be catastrophic for the economy. The S&P 500 index closed a very choppy session mostly flat at 4192.63, (more…)
THE GIST (“THE WHAT”) Logging its best week since March, the S&P 500 index closed the session slightly lower at 4191.99, down 6.07 points (-0.41%). Opening higher, then index pulled back amid reports that the debt ceiling talks seemed stalled once again. Dovish comments by Fed Chair Powell late afternoon, however, helped cap the day’s (more…)
THE GIST (“THE WHAT”) Markets continue to closely monitor the ongoing debt ceiling negotiations as the deadline approaches near, the S&P 500 index extended Wednesday’s gains to notch its highest level since August 2022 on hopes that a deal to avoid a catastrophic default could be reached by next week. The index broke out of (more…)
THE GIST (“THE WHAT”) The S&P 500 index rallied on optimism that the debt ceiling negotiation is progressing towards a deal in order to avert a potentially catastrophic default. A strong rebound in regional bank stocks also fueled the day’s gains. The index closed the session near 2 weeks high at 4158.78, up 48.89 points (more…)
THE GIST (“THE WHAT”) Debt ceiling stalemate ahead of a looming deadline continued to weigh down on the broader market sentiment. Trading sideways in a tight range for most part of the session, the S&P 500 index closed the choppy session at day’s lows at 4109.89, down 26.38 points (-0.64%). Note: Our daily “S&P 500 Trading (more…)
THE GIST (“THE WHAT”) Markets remain in a holding pattern with the debt ceiling negotiations expected to resume tomorrow. S&P 500 index closed the first trading day of the week with modest gains of 12.20 points at 4136.27 (+0.30%) amid hopes that the negotiations could result in some resolution in order to avoid a default (more…)
THE GIST (“THE WHAT”) The S&P 500 index traded within the 4150 and 4100 price band the entire week as uncertainty around the debt ceiling and ongoing banking turmoil capped optimism around the first quarterly earnings. Opening higher, the index gave up gains following a disappointing consumer sentiment data only to test the psychologically important (more…)
THE GIST (“THE WHAT”) The S&P 500 index remains range bound, stuck between 4100 and 4185 as markets navigate through an unchartered territory of rising interest rates, sticky inflation and a looming U.S. debt crisis. Trading directionless within yesterday’s range, the index closed slightly lower at 4130.63, down 7 points (-0.71%). Note: Our daily “S&P 500 (more…)
THE GIST (“THE WHAT”) A better-than-feared CPI read sparked hopes that the Fed might be nearing its monetary tightening cycle, sending mega-cap Tech stocks higher and pushing the broader index to close today’s session with modest gains. Early session gains, however lost steam as investors digested the inflation read. But finding a strong support at (more…)
THE GIST (“THE WHAT”) Gapping down at the open, the index struggled to find direction, trading within a tight range on a low volume day ahead of key inflation reading tomorrow, closing at 4119.18, down 18.95 points (-0.46%). Debt ceiling standoff also weighed down on investor sentiment. Note: Our daily “S&P 500 Trading plan” will be (more…)
